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Digital assets could threaten financial stability: Global financial watchdog FSB
source link: https://nextbigwhat.com/digital-assets-could-threaten-financial-stability-global-financial-watchdog-fsb/
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Home Web 3 Digital assets could threaten financial stability: Global financial watchdog FSB
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Digital assets could threaten financial stability: Global financial watchdog FSB
- Crypto-asset markets are fast evolving and could reach a point where they represent a threat to global financial stability due to their scale, structural vulnerabilities and increasing interconnectedness with the traditional financial system.
- Although the extent and nature of use of crypto-assets varies somewhat across jurisdictions, financial stability risks could rapidly escalate, underscoring the need for timely and pre-emptive evaluation of possible policy responses.
- Crypto-asset market capitalisation grew by 3.5 times in 2021 to $2.6 trillion, yet crypto-assets remain a small portion of overall global financial system assets.
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